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Auryn Advances High-Grade Gold Targeting at Committee Bay
VANCOUVER, BC / ACCESSWIRE / May 20, 2020 / Auryn Resources Inc. (TSX:AUG)(NYSE American:AU...
About this update from Fury Gold Mines Limited
[{"type":"text","content":"Auryn Advances High-Grade Gold Targeting at Committee BayVANCOUVER, BC / ACCESSWIRE / May 20, 2020 / Auryn Resources Inc. (TSX:AUG)(NYSE American:AUG) (\"Auryn\" or the \"Company\") is pleased to announce a significant advancement in targeting high-grade gold mineralization at the 100% owned Committee Bay gold project in Nunavut.Auryn's technical team analyzed recent and historical drill results from across the 300-kilometer greenstone belt and differentiated the geophysical conductivity responses between high-grade and low-grade mineralization. This led to revisiting a number of high potential targets across the belt that are characterized by strong gold-in-till anomalies and high-grade gold in outcrop or boulder trains, where historical drilling has not yet explained the extensive high-grade occurrences. In addition, undrilled targets were identified that have both high-grade boulder and outcrop rock samples as well as conductivity responses that are consistent with observed high-grade mineralization in other areas of the belt.A Message from Ivan Bebek, Executive Chairman & Director:\"The Committee Bay gold project represents one of the premier gold belts globally. In the past four years we have come progressively closer with the successful drilling of multiple gold zones on the 300-kilometer trend, however, we have yet to drill the high-grade sources. Our most recent efforts last year led us to an instrumental breakthrough in targeting high-grade mineralization, which we are very excited to pursue as the gold price continues to rise.\"Advanced Targeting Process: The process of evaluating conductivity responses across the belt and correlating to gold grade has led Auryn to reinterpret both magnetics and geological data with the following results:A new understanding of shallowly plunging structural geometries associated with fold hinge zones that are favorable for hosting high-grade mineralization.An understanding of the relevance of the highest conductivity responses in each rock type that has the potential to correspond with high-grade mineralization based on sulphidation of the host rock.Auryn has applied this approach to the southwestern third of the belt and identified two significant fold hinge targets that have not been drilled at the Anuri and Amautik prospects (Figure 1). The technical team believes that the identi...